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Cashing in: Study shows banks investing big in GenAI, and it’s paying off

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Banking tops other industries in adopting the technology for marketing, risk management, customer service and more

CARY, N.C., Oct. 28, 2024 /PRNewswire/ — A new report on the use of generative AI in banking finds that financial services leads other industries in implementing the technology. A recent survey found that 17% of banking leaders have fully integrated GenAI into their regular processes. Further, 3 in 5 currently use GenAI to some degree – and nearly all the rest plan to begin soon. Obstacles remain, led by data privacy and security concerns. But the study confirmed that banks are already realizing GenAI gains across the business.

How does banking stack up to other sectors in the use and adoption of GenAI? Dive in at SAS.com/genai-banking.

The report, Your journey to a GenAI future: A strategic path to success in banking, is based on findings from a global, cross-industry survey by data and AI leader SAS and Coleman Parkes Research. Among 1,600 business leaders surveyed in 20 countries, 243 were senior banking execs who are decision makers on their organization’s GenAI strategy. Their insights offer an insider’s look at how banks are implementing GenAI, their biggest challenges, and how banking compares to industries like insurance, the public sector, health care, manufacturing, retail and more.

“GenAI is obviously a major trend across sectors right now, but maybe most significantly in financial services,” said Alex Kwiatkowski, Director of Global Financial Services at SAS. “Our survey found that banks, along with insurers, are currently using GenAI at higher rates than other industries. Among the many benefits early adopters are seeing, one of the most oft-cited by banking leaders is in risk management and compliance, where nearly nine in 10 reported improvements after deploying GenAI.”

Banks are all in on AI, with the budgets to prove it
The interest rates on savings accounts and loan applications may be ticking downward, but banks’ interest in generative AI is as high as ever. In fact, it’s nearly unanimous, with 98% of banking respondents either already using GenAI (60%, tied with insurance for the highest adoption rate) or planning to do so within the next two years (38%). And it’s not just talk: 90% said they have a dedicated GenAI budget for the coming year.

Beyond the 17% of banking leaders who reported fully implementing GenAI into their business processes, another 43% indicated they are experimenting with the technology at the enterprise level. Six in 10 said they have deployed at least one GenAI use case to date – the highest of any industry.

Banks are also using GenAI across departments and business functions. Compared with cross-industry averages, banks use GenAI at a higher rate in marketing (47%), IT (39%), sales (36%), finance (35%) and customer service (24%).

“GenAI technology is a double-edged sword for banks, as it has been weaponized by criminals to commit fraud faster than banks can adopt GenAI to protect their customers,” said Stu Bradley, Senior Vice President of Risk, Fraud and Compliance Solutions at SAS. “But better anti-fraud safeguards are just one of many potential advantages awaiting firms that take the GenAI leap. In fact, leaders on the first wave of GenAI implementation are seeing early returns on their investments in many areas of the bank.”

GenAI is already paying dividends in banking
The benefits from GenAI in banking aren’t just aspirational; they’re already happening, particularly in banks’ internal processes. Among bank leaders that have integrated GenAI, huge majorities are seeing gains in:

Employee experience and satisfaction (90%).Risk management and compliance (88%).Time savings and reduced operational costs (85%).

In addition, more than three-quarters reported improvements in customer satisfaction and retention (82%); efficiency in processing large data sets (78%); and sales or market share from data-driven insights (76%).

Marketing emerged as the most common area for banks to use GenAI, cited by 47% of banking leaders polled. A related SAS study, based on a separate survey of marketing professionals, found that banking marketers most frequently use GenAI for customer interactions (44%) and generating written copy (33%). They also plan to expand its use within the next year to audience targeting (64%) and trend analysis (64%).

Banking, like other industries, faces obstacles to GenAI success
Like many investments, GenAI does involve a degree of risk and uncertainty. Banking leaders’ foremost concerns involve protecting the privacy (74%) and security (71%) of their – and their customers’ – data. One potential solution? Synthetic data. Nearly one-third (29%) is already using this form of GenAI, and another 33% said they are actively considering it.

Implementation challenges are another obstacle facing the banking industry. Over half (54%) said that using public and proprietary data sets has been, or likely will be, an obstacle to implementing GenAI. And nearly as many (49%) said they are experiencing challenges moving GenAI from conceptual to practical.

Finally, banking leaders also worry about GenAI governance and regulation. Only 6% of those surveyed said their current governance framework is “well-established.” Most (58%) indicated that their frameworks are “in development” – but more than a third viewed theirs as either “ad hoc or informal” (27%) or “non-existent” (9%). The biggest hurdles to implementing effective governance and monitoring? Almost one-third (30%) cited technological limitations. Another 30% pointed to lack of transparency and accountability, a number that’s slightly higher than other industries.

“GenAI is changing the world of banking in ways that were previously unimaginable – and at astonishing speed,” said Kwiatkowski. “There is no shortcutting AI governance in banking or any industry. Trustworthy AI requires a foundation of human centricity, and it must embody the other core tenets of responsible innovation – inclusivity, transparency and accountability among them.”

Dig deeper into GenAI insights, in-person or online
Today’s announcement was made during Money20/20, branded the largest global fintech event enabling payments and finserv innovation, convening in Las Vegas, Oct. 27 – 30. Attendees are invited to engage with SAS experts on GenAI and other topics throughout the conference at Booth 3703.

To explore additional findings from SAS’ global GenAI study, download the banking report at SAS.com/genai-banking and check out SAS’ interactive GenAI data dashboard.

About SAS
SAS is a global leader in data and AI. With SAS software and industry-specific solutions, organizations transform data into trusted decisions. SAS gives you THE POWER TO KNOW®.

SAS and all other SAS Institute Inc. product or service names are registered trademarks or trademarks of SAS Institute Inc. in the USA and other countries. ® indicates USA registration. Other brand and product names are trademarks of their respective companies. Copyright © 2024 SAS Institute Inc. All rights reserved.

Editorial Contact:         

Trey Whittenton             

Danielle Bates

Trey.Whittenton@sas.com   

Danielle.Bates@sas.com 

919-531-6829           

919-531-1959

sas.com/news

 

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DCCM Acquires Dynamic Solutions, LLC Expanding Water Resources Expertise

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DCCM has acquired Dynamic Solutions, LLC, a consulting firm recognized for advanced water resources, hydraulic, and hydrodynamic modeling. Dynamic Solutions expands DCCM’s technical capabilities in water and environmental modeling to better serve complex infrastructure and water-related client needs. Dynamic Solutions, founded in 1996 and offering services including watershed/hydrology studies, sediment transport, water quality, and ecological modeling, will continue operating with its existing leadership and team.

HOUSTON, May 4, 2026 /PRNewswire-PRWeb/ — DCCM, a national provider of design, consulting, and program and construction management professional services, is pleased to announce the acquisition of Dynamic Solutions, LLC, a specialized consulting firm known for advanced water resources, hydraulic, and hydrodynamic modeling.

“This acquisition expands DCCM’s technical capabilities in advanced water and environmental modeling while strengthening our ability to serve clients facing complex infrastructure and water-related challenges,” said James F. (Jim) Thompson, PE, Chairman and CEO of DCCM.

Founded in 1996, Dynamic Solutions is nationally recognized for its expertise in hydraulic and hydrodynamic modeling, watershed and hydrology studies, sediment transport, water quality, and ecological modeling. The firm supports clients across federal, state, and local markets, as well as select technical advisory engagements, delivering analytical solutions for complex water and environmental challenges.

Dynamic Solutions operates from offices in Knoxville, Tennessee; Baton Rouge, Louisiana; Columbus, Mississippi; and Hamilton, Ohio, supporting projects nationwide.

“This acquisition expands DCCM’s technical capabilities in advanced water and environmental modeling while strengthening our ability to serve clients facing complex infrastructure and water-related challenges,” said James F. (Jim) Thompson, PE, Chairman and CEO of DCCM. “Dynamic Solutions brings a depth of expertise and a reputation for technical excellence that aligns well with our long-term growth strategy.”

Dynamic Solutions will continue to operate with its existing leadership and team, maintaining its specialized service offerings and longstanding client relationships.

“Joining DCCM allows us to build on the outstanding work our team is known for while gaining access to broader resources and a national platform,” said Julie Wallen of Dynamic Solutions. “We look forward to continuing to deliver the same high level of service to our clients as part of the DCCM organization.”

About Dynamic Solutions, LLC

Dynamic Solutions, LLC is a consulting firm specializing in hydraulic and hydrodynamic modeling, watershed and hydrology studies, sediment transport, water quality, and ecological modeling. Founded in 1996, the firm serves public sector and institutional clients across the United States.

About DCCM

DCCM is a provider of design, consulting, and program and construction management professional services focused on infrastructure across the public and private sectors. Through a national platform, DCCM serves a diverse range of end markets.

DCCM is a portfolio company of Court Square Capital Partners.

For more information, please visit www.dccm.com.

Media Contact

Jessica Steglich, DCCM, 1 7138749162, marketing@dccm.com, dccm.com

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Modine to Participate in Upcoming Oppenheimer Virtual Conference on May 5, 2026

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RACINE, Wis., May 4, 2026 /PRNewswire/ — Modine (NYSE: MOD), a diversified global leader in thermal management technology and solutions, announced today that it will participate in the Oppenheimer 21st Annual Industrial Growth Conference on Tuesday, May 5, 2026.

Neil D. Brinker, Modine President and Chief Executive Officer, and Michael B. (Mick) Lucareli, Executive Vice President and Chief Financial Officer, will participate in a virtual fireside chat during the conference on Tuesday, May 5, 2026, at 1:30 p.m. Eastern time (12:30 p.m. Central Time).

Live webcasts of the event will be available in the Investor Relations section of Modine’s website www.modine.com. Recordings of the events will be available for 365 days following the webcast.

About Modine
For more than 100 years, Modine has solved the toughest thermal management challenges for mission-critical applications. Our purpose of Engineering a Cleaner, Healthier World™ means we are always evolving our portfolio of technologies to provide the latest heating, cooling, and ventilation solutions. Through the hard work of more than 11,000 employees worldwide, our Climate Solutions, Data Centers, and Performance Technologies segments advance our purpose with systems that improve air quality, reduce energy and water consumption, lower harmful emissions, and enable the transition to a more sustainable future. Modine is a global company headquartered in Racine, Wisconsin (U.S.), with operations in North America, South America, Europe, and Asia. For more information about Modine, visit modine.com.

Investor Contact
Kathleen Powers
(262) 636-1687
kathleen.t.powers@modine.com

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Blaize and Winmate Sign Strategic Partnership Agreement to Bring AI to Rugged Systems for Defense and Critical Infrastructure

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Joint solutions combine Blaize’s energy-efficient and industrial-grade AI chips with Winmate’s rugged platforms – including drones, handhelds, vehicle-mounted units, and embedded edge devices used by defense, border security, maritime, and healthcare operators.

TAIPEI and EL DORADO HILLS, Calif., May 4, 2026 /PRNewswire/ — Blaize Holdings, Inc. (Nasdaq: BZAI, Nasdaq: BZAIW) (“Blaize,” the “Company,” “we,” “our,” or “us”), and Winmate Inc., a publicly traded company in Taiwan, today announced they have signed a Strategic Partnership Agreement (“Agreement”) with an intent to close approximately $15 million in business during the first year. The two companies will integrate Blaize’s AI chips into Winmate’s rugged systems, including drones, handhelds, vehicle-mounted units, and embedded devices that have to keep working in the field, often in places where regular hardware can’t survive.

The companies expect the Agreement to be the start of a much larger, multi-year relationship.

Why this partnership matters

Most AI today runs in large data centers rather than at the edge, where decisions must be made in real time. This model is often impractical for soldiers at remote posts, Coast Guard crew at sea, or medics in field clinics. They often don’t have a reliable network connection, and even when they do, they can’t afford to wait for an application to respond from halfway across the globe.

That’s the gap Blaize and Winmate intend to address through this partnership. Blaize’s chips were designed to industrial grade specifications and run AI directly on the device, with no cloud dependency. Winmate’s systems are purpose-built to perform in extreme environments, including heat, cold, dust, vibration, and rough handling. Together, they deliver real-time AI capabilities exactly where it’s needed, whether in drones, field units, the patrol vehicles, or diagnostic devices.

A fast-growing market

Demand for on-device AI is accelerating. According to BCC Research[1], the global edge AI market is projected to grow from $11.8 billion in 2025 to $56.8 billion by 2030, a 36.9% compound annual growth rate. Defense agencies, governments, hospitals, ports, and critical infrastructure operators all demand AI that can run securely on their equipment, without sending sensitive data over public networks.

From the leaders

“Our customers can’t wait, and they often can’t rely on the cloud. They need AI that runs where the work happens. Winmate makes some of the most capable rugged systems in the industry, and our chips are designed to run AI inside exactly those kinds of devices. This partnership turns a years-long vision into a practical, deployable answer for defense and critical infrastructure operators,” said Dinakar Munagala, CEO of Blaize, Inc.

“Our platforms are deployed on naval vessels, in border outposts, on industrial sites, and in disaster zones – environments where most hardware fails. With Blaize, we can now deliver those same systems with on-device AI built in, giving customers real-time intelligence wherever they operate,” said Ken Lu, Chairman and CEO of Winmate Inc.

Target applications

Border security and surveillance: Real-time threat detection and perimeter monitoringMobile command and control: On-site intelligence and situational awareness for field teamsDrones and unmanned systems: Autonomous navigation and mission execution for UAVs and ground vehiclesCritical infrastructure: Continuous monitoring and predictive analytics for power, ports, and transportationMaritime domain awareness: Vessel tracking and anomaly detection at seaField healthcare: Portable diagnostics and decision support in remote and disaster environments

Deal at a glance

First-year revenue: the parties intend to work in good faith to close approximately $15 million in business, expected to scale meaningfully in subsequent yearsTerm: Three-year initial term, with automatic renewalNext steps: Joint engineering, sales, and marketing execution to bring integrated systems to market, with additional opportunities to be added through follow-on programs

[1] BCC Research, “Global Edge AI Market,” October 2025

About Blaize, Inc.

Blaize delivers a programmable AI platform, purpose-built for AI inference workloads in real-world environments. Its Hybrid AI architecture combines the Blaize GSP (Graph Streaming Processor) with GPU-based infrastructure, enabling AI inference workloads to run across edge, cloud, and data center. Blaize solutions support computer vision, multimodal AI, and sensor-driven applications across smart cities, industrial automation, telecommunications, retail, logistics, and defense. Blaize is headquartered in El Dorado Hills, California, with a global presence across North America, Europe, the Middle East, and Asia. Visit www.blaize.com or follow us on LinkedIn @blaizeinc.

About Winmate Inc.

Winmate Inc. is a publicly traded global leader in rugged computing systems, delivering industrial-grade platforms – including handhelds, tablets, vehicle-mounted units, panel PCs, and embedded modules – for demanding environments across defense, transportation, energy, healthcare, and industrial markets.

Cautionary Statement Regarding Forward Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the U.S. Securities Exchange Act of 1934, as amended (the “Exchange Act”) that are based on beliefs and assumptions and on information currently available to Blaize, including expectations and scope of customer contracts, including the Strategic Partnership Agreement with Winmate, the potential value and the timing of revenue pursuant to such contracts, preliminary estimates of results of operations and guidance on results for future periods, the industry in which Blaize operates, market opportunities, and product offerings. In some cases, you can identify forward-looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing,” “target,” “seek” or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, although not all forward-looking statements contain these words. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to those factors discussed under the heading “Risk Factors” in our Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 24, 2026, and other documents filed by Blaize from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Blaize assumes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law, including the securities laws of the United States and the rules and regulations of the SEC. Blaize does not give any assurance that it will achieve its expectations.

Blaize Contact

press@blaize.com
www.blaize.com 

Investors

ir@blaize.com
www.blaize.com 

Winmate Inc.

Liu, Chih-Yuan
Tel: +886-2-8511-0288
Email: spokesman1@winmate.com.tw
https://www.winmate.com/ 

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SOURCE Blaize Inc.

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